Doximity (NASDAQ:DOCS) Stock Price Expected to Rise, Mizuho Analyst Says

Doximity (NASDAQ:DOCS) had its target price upped by equities research analysts at Mizuho from $55.00 to $65.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm currently has a “neutral” rating on the stock. Mizuho’s price objective indicates a potential downside of 23.15% from the stock’s current price.

Several other brokerages have also recently commented on DOCS. Raymond James reaffirmed an “outperform” rating and set a $83.00 price target (up previously from $65.00) on shares of Doximity in a research report on Friday. Truist Financial lifted their target price on Doximity from $35.00 to $49.00 and gave the stock a “hold” rating in a research report on Thursday, November 14th. Morgan Stanley raised Doximity from an “underweight” rating to an “equal weight” rating and upped their price target for the company from $33.00 to $53.00 in a research report on Thursday, November 14th. Leerink Partnrs raised shares of Doximity from a “hold” rating to a “strong-buy” rating in a report on Friday. Finally, JPMorgan Chase & Co. increased their target price on shares of Doximity from $30.00 to $48.00 and gave the stock a “neutral” rating in a report on Thursday, November 21st. Eleven analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $64.22.

Doximity Stock Up 6.8 %

Shares of DOCS traded up $5.35 during trading on Monday, reaching $84.58. The company’s stock had a trading volume of 2,536,485 shares, compared to its average volume of 1,933,044. The company has a market cap of $15.79 billion, a price-to-earnings ratio of 85.06, a P/E/G ratio of 4.61 and a beta of 1.39. The company has a fifty day moving average of $55.61 and a two-hundred day moving average of $45.91. Doximity has a twelve month low of $22.96 and a twelve month high of $84.95.

Doximity (NASDAQ:DOCS) last posted its quarterly earnings data on Thursday, November 7th. The company reported $0.24 EPS for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.02). The company had revenue of $136.83 million for the quarter, compared to the consensus estimate of $127.05 million. Doximity had a net margin of 36.60% and a return on equity of 22.38%. During the same quarter last year, the company earned $0.18 earnings per share. As a group, equities analysts forecast that Doximity will post 0.88 EPS for the current fiscal year.

Insider Transactions at Doximity

In related news, Director Timothy S. Cabral sold 20,000 shares of Doximity stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $57.62, for a total transaction of $1,152,400.00. Following the transaction, the director now directly owns 6,360 shares of the company’s stock, valued at $366,463.20. The trade was a 75.87 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 37.40% of the company’s stock.

Institutional Trading of Doximity

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Global Retirement Partners LLC raised its holdings in Doximity by 468.1% during the 4th quarter. Global Retirement Partners LLC now owns 534 shares of the company’s stock worth $29,000 after buying an additional 440 shares during the period. UMB Bank n.a. increased its position in shares of Doximity by 69.1% in the fourth quarter. UMB Bank n.a. now owns 575 shares of the company’s stock worth $31,000 after acquiring an additional 235 shares in the last quarter. Farther Finance Advisors LLC raised its holdings in shares of Doximity by 324.2% during the third quarter. Farther Finance Advisors LLC now owns 789 shares of the company’s stock valued at $34,000 after acquiring an additional 603 shares during the period. Larson Financial Group LLC lifted its position in shares of Doximity by 49.4% in the 4th quarter. Larson Financial Group LLC now owns 756 shares of the company’s stock valued at $40,000 after acquiring an additional 250 shares in the last quarter. Finally, Morse Asset Management Inc acquired a new position in shares of Doximity during the 3rd quarter worth about $46,000. 87.19% of the stock is owned by institutional investors and hedge funds.

About Doximity

Doximity, Inc operates a cloud-based digital platform for medical professionals in the United States. The company's platform provides its members with tools built for medical professionals, enabling them to collaborate with their colleagues, coordinate patient care, conduct virtual patient visits, stay up to date with the latest medical news and research, and manage their careers.